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You're writing this on an article about how GS paid billions to settle a claim. How is that "nothing on the line"?
by ikeboy 11y ago
You're writing this on an article about how GS paid billions to settle a claim. How is that "nothing on the line"?
- haberman 11y agoThe claim was for fraud. The fact that GS defrauded investors is its own independent transgression, separate from the risky bets that the government de facto insured them from. If I default on my mortgage and commit fraud, I don't have the luxury of saying "the fraud sentence is enough, can't I at least keep my house?"
- ikeboy 11y agoWho defaulted to whom here?
- bicknergseng 11y agoThose billions are relative to the amount of money they made though. A crappy analogy is a bank robber who steals a million dollars from 10 banks, gets caught at the last, and has to pay back 2 million dollars.
- ikeboy 11y agoIt's almost a year's worth of profit. Do you have reason to believe that their income obtained by fraud is significantly more than the fines they paid? Goldman has plenty of other businesses.
- drumdance 11y agoThey also received $12.9 billion from the government as part of the AIG bailout, more than any other entity.